MCX Gold April contract on MCX inched 142 rupees down on Monday and closed at 26944. Gold traded in sideways mode whole the session and closed within the range. Today support is around 26830 if it will sustain below this level the next support is around 26700-650 zones. Strong supportive zone is 27650 and any closing below this level would bring 26400-26300 immediately. Today Resistance is now seen near 27000 in move above this level the next level will be 27180-27400 zones. There is a gap on chart around 27180 that will be fill if sustain above 27000.
Gold trading range for the day is expected among the key support at 26650 and resistance at 27000.
Gold buy above 27000 sl below 26860 trgt 27178/27380
Gold sell below 26650 sl above 26800 trgt 26511/26380
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